The Canadian dollar has been extending its yesterday’s gains against the currencies of Europe, Australia and Japan in Asian deals on Friday as crude oil price rose on Egypt worries.
The Canadian dollar strengthened to a 3-day high against the euro, 11-day high against the Aussie and more than a 3-week high against the yen. But the Canadian dollar traded in a tight range against the US dollar.
Egyptian President Mubarak surprised the markets yesterday by stating that he will stay in office until the September elections but will transfer some power to the country’s new vice president.
U.S. crude for March delivery gained 56 cents to $87.22 a barrel at 12:40 am ET.
The International Energy Agency (IEA) in its monthly Oil Market Report released yesterday revised up 2011 global oil demand by 120,000 barrels per day to 89.3 million barrels per day (mbd)
Separately, the OPEC in its monthly report said yesterday that world oil demand forecast to grow by 1.4 mbd to 87.70 mbd in 2011, citing stronger industrial output in the US and China.
The Canadian dollar gained against the currency of Europe in Asian deals on Friday. As of now, the loonie is trading at a 3-day high of 1.3508 against the euro with 1.336 seen as the next upside target level. At yesterday’s close, the euro-loonie pair was quoted at 1.3542.
The euro fell amid reduced expectations for an interest rate hike by the European Central Bank in the near future.
During Asian deals on Friday, the Canadian dollar advanced against the Japanese yen. The loonie-yen pair is currently trading at more than a 3-week high of 83.92, compared to Thursday’s close of 83.66. The next upside target level for the loonie is seen at 84.7.
The Canadian dollar strengthened against the Aussie in Asian deals on Friday. At present, the loonie is trading at an 11-day high of 0.9939 against the aussie and if the loonie climbs further, it may likely target the 0.985 level. The aussie-loonie pair closed yesterday’s trading at 1.00.
The Aussie slipped as the Reserve Bank of Australia Governor Glenn Stevens indicated today that interest rates in the nation would be stable in the forseeable future.
In Asian deals on Friday, the Canadian dollar traded in a tight range against the US dollar. The pair bounced between 0.995 and 0.996. The pair was worth 0.9955 at yesterday’s close.
Looking ahead, German final CPI and wholesale price index- both for January, French December current account and preliminary fourth quarter non-farm payrolls, U.K. January PPI are expected to influence trading in the upcoming European session.
Trade balance reports for December from U.S. and Canada and the University of Michigan’s preliminary consumer confidence report for February are slated for release in the North American session.
Diamonds that aren’t battle free could have been not directly the
reason for a substantial amount of struggling and even dying.
Conflict free diamonds are mined, processed, and exported
beneath exacting situations that don’t enable any criminal
activity or violence.
I really enjoy your work , Fantastic post.
Incredibly awesome article, i surely love this site, keep
writing.
Well written article. It will be helpful to anybody, which includes me.
Keep up the good work. I cannot wait to read more posts.
You’re so awesome! I don’t think I can learn something like this
before. So great to find someone with some creative ideas on this subject.
really thanks for bringing this up. this website is something that is needed on the net, somebody with somewhat creativity.
excellent job for bringing something new to the web!
You have made some good points there. I checked on the internet for more information about the issue and found most people will go along with your views on this site.
Wow, that’s what I was searching for, what a material! present here at this
web site, thanks admin of this site.
Hey there! Amazing stuff, please do tell us when you post again.
What’s up to every one, the contents present at this website are really awesome
for people knowledge, well, keep up the nice work fellows.
To make sure no-one can inform that you’re placing on costume jewellery, select items which have a
genuine steel setting.
N4167S from danon firm in Israel.